The European Commission has raised €11 billion of EU-Bonds in its 8th syndicated transaction for 2026.
The dual-tranche transaction concerned a €6 billion new 3-year EU-Bond maturing on 12 March 2030 and a €5 billion new 30-year EU-Bond maturing on 12 October 2056.
Building on the pricing of recent syndications against the EU Bond curve, both maturities were priced against reference points in the EU Bond curve. The approach reflects the growing liquidity of the EU-Bond curve, which can be used more frequently as a reliable reference point for pricing of syndicated issuances when deemed desirable.
The transaction is part of the Commission's €80 billion funding target for the second half of 2026 .
Funds raised from EU issuances are used to support the European Union's political priorities, including support for a stronger, more competitive and resilient Europe, support to Ukraine and crucial investments in European defence.
The EU's total outstanding debt now stands at about €849.27 billion, of which €43.9 billion in the form of EU-Bills and €84.3 billion in the form of NextGenerationEU Green Bonds.
EU-Bond transactions (syndications and auctions) executed to date in the second half of 2026 [EUR billion]
Today's bond syndication 3-year new Bond A €6 billion new EU-Bond due on 12 March 2030: this bond carries a coupon of 3.375 % and came at a re-offer yield of 3.495%, equivalent to a price of 99.629%. The spread to the EU-Bond maturing on 12 July 2029 is 6 bps, which is an equivalent spread to mid-swap of -1 bps, and 22.6 bps over the Bund due 11 October 2029 and 15.6 bps below the OAT due 25 February 2030. The final order book was over €72 billion, with oversubscription rate of approximately 12-times. 30-year new Bond A €5 billion new EU-Bond due on 12 October 2056: this EU-Bond carries a coupon of 4.5 % and came at a re-offer yield of 4.541 %, equivalent to a price of 99.329 %. The spread to the EU-Bond maturing on 12 October 2055 is 3 bps, which is an equivalent spread to mid-swap of 107 bps, and 64.7 bps over the Bund due 15 August 2056 and 57.5 bps below the OAT due 25 May 2056. The final order book was over €80 billion with an oversubscription rate of approximately 16 times. |
